MSB failed to gain an FDA approval they had been hoping for and price fell 35% for the week. There is no longer any charting analysis that suggests this stock is currently a buy (any reasonable stop loss will have been broken) but it will be interesting to see how/if price recovers over the coming weeks and months. Holders caught out by the fall (ike myself) may choose to sit and watch how price unfolds going forward - rather than close out their trade near a probable bottom.

29 September 2020

Price has been driven by potential Covid treatment development with US FDA approval being decided by 30 September. A tick and price will rocket. A fail and it will be toast. From a charting perspective, price seems to be on Wave 3 which is the longest and strongest rising wave in a price cycle. Price is making higher troughs and peaks (a buy signal) and is above a valid weekly uptrend line. Price also made a triple low over the past 4 years and that traditionally signals a meteoric rise in prices (but this may have already happened – so no guarantees of further rises. My next price target is $6.43

MSB 29Sept2020

16 August 2020

MSB took off based on euphoria surrounding its upcoming meeting with the FDA for drug approval. Price rose towards my target (up 11% in one day) but I thought I'd hold as price still hadn't reached said target. Next day some briefing notes from the FDA were leaked and price dropped 30%. The fall had finished by the time I found out about it and after reading the FDA notes I felt it was better to hold in the hope of a recovery in prices from buyers punting the FDA tick of approval. Price fell a little more but the FDA signed off and price jumped up 40%. I didn't get out at the top but the volatility was too much for me and I exited with an 11% profit for a 4 week trade. Again this shows the accuracy of targets from this form of pattern trading.

MSB 16Jul2020

 10 July 2020

Bought MSB this week. I traded this recently and made good gains when it spiked. Coming back for a second bite of the cherry often doesn’t end well – but we live in hope. Price has made a triple low over the past 4 years – a pattern suggesting very strong price rises ahead. Price seems to be rising in Wave 3 and since the Covid fall in March, is making higher troughs and peaks – a but signal. There is a resistance break and Gann Theory patterns suggesting a target of $5.10 which is a potential profit of 38%. The theory seems good but this stock has been touted as having some solutions to the Covid issue and hence its price is being driven by possibly exuberant expectation at the present time.

MSB 10Jul

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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